MIRA INFORM REPORT

 

 

Report Date :

29.01.2008

 

IDENTIFICATION DETAILS

 

Name :

SILEX SPOL. S R.O.

 

 

Registered Office :

Namesti Jiriho Z Lobkovic 2459/19 130 00 Praha

 

 

Country :

Czech Republic

 

 

Financials (as on) :

2006

 

 

Date of Incorporation :

03.10.1990

 

 

Com. Reg. No.:

C 301

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesale of Textiles

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

Fairly Large

 

Maximum Credit Limit :

EUR 450.000,00

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

 

 

 

 

COMPANY REPORTED

 

 

 

SILEX SPOL. S R.O.


Principal Address

namestí Jiriho z Lobkovic 2459/19
130 00 Praha 3
Czech Republic
Tel: +420-267 312 897, +420-267 312 923, +420-272 731 411
Fax: +420-272 312 897
Email: silex@silex.cz
Internet: www.silex.cz


Registered office

namestí Jiriho z Lobkovic cp.2459,c.or.19
130 00 Praha 3
Czech Republic

 

Branch

 

The company has 24 branches in the Czech Republic.

 

 

Former company addresses

Former Registered office:
Dekanska vinice II č. 1534/4
140 00 Praha 4
Czech Republic

Former Registered office:
Sobeslavska 28
130 00 Praha 3
Czech Republic

 

 

ICON number

 

4754250

 

 

National ID

 

00563714

 

VAT number

 

CZ00563714

 

 

Registration status

 

03.10.1990 - registered company

 

Activity status

 

03.10.1990 - active company

 

 

 

CREDIT INFORMATION SUMMARY

 



 

 

Insolvency Information:

According to available information sources the company is not in a insolvency/preliminary/debt regulation proceeding.

 


 

 

Maximum Credit:

EUR 450.000,00

 


 

 

 


 

 

Payment Practices:

Payments are made according to terms

 


 

 

Further Rating Information:

Researched company is categorized as a medium sized company.
Turnover volume of CZK 291.580.000 in the year 2006 decreased by 3,58% compared with 2005. In previous period this change was +6,30%.
Fixed assets increased by CZK 6.875.000 and are 6,99% of total assets.
Working capital of CZK 138.869.000 increased for 18,13% compared with the last period.
Cash flow from results of CZK 32.584.000 decreased by 8,45% compared with last year result.

 


 

 

Debt Collection:

There is no record of any debt collection action against this company exceeding a single case volume of EUR 500.

 


 

 

 

 

 

COMPANY DETAILS

 

 


 

 

Established:

1990

 


 

 

Registration:

No. C 301
03.10.1990
Praha, Czech Republic

 


 

 

Legal Form:

03.10.1990
limited liability company

 


 

 

History:

On 31.12.2000, a part of the company SILEX spol. s r.o. /ID:00563714/ was sold to the company SILEX vývoz a dovoz, s.r.o. /ID:26210649/.
The company SILEX spol. s r.o. /ID:00563714/ and the dissolving company SILEX Praha s.r.o. /ID:26210924/ merged on 03.09.2001.

 


 

 

Capital:

CZK 100.000,00

 


 

 

Shareholders:

Full Name

Function

Address

Equity

Ing. ŠACHOVÁ Ivana

Partner
13.06.2005 - Present

Za Hládkovem 9/980
169 00 Praha 6
Czech Republic

CZK 100.000,00

 


 

 

Management:

Full Name

Function

Address

Ing. ŠACHOVÁ Ivana
26.04.2004 - Present

Managing Director

Za Hládkovem 9/980
169 00 Praha 6
Czech Republic

 


 

 

KEY DATA ON OPERATIONS

 



 

 

Subject of Operation:

NACE
  main activity
  5141 Wholesale of textiles

  1700 Manufacture of textiles

 


 

 

Key Data:

Amounts shown in Czech Koruna (CZK)

 

2006

2005

2004

2003

Turnover

291.580.000

302.415.000

322.738.000

341.229.000

Fixed assets

13.086.000

6.211.000

3.983.000

5.472.000

Equity

148.425.000

120.736.000

152.751.000

118.347.000

Liabilities

34.446.000

45.367.000

46.562.000

43.242.000

Profit after taxation

33.689.000

36.986.000

34.404.000

28.276.000

Operating result - profit

46.645.000

51.538.000

49.063.000

41.474.000

 

 

2006

2005

2004

2003

Return on assets (ROA)
(Net result / TOTAL ASSETS) * 100

17,98

21,73

16,92

16,91

Return on equity (ROE)
(Net result / Equity capital) * 100

22,70

30,63

22,52

23,89

 


 

 

Workforce:

 

2008

2007

2006

2005

Total workforce

80

80

80

75

 


 

 

Motor Vehicles:

 

2008

2007

2006

2005

Total number of vehicles

5

5

 

 

Number of cars

 

 

5

5

 


 

 

Exports:

 

Finland

Norway

Sweden

 


 

 

FINANCIAL INFORMATION

 



 

 

Financials:

Amounts shown in Czech Koruna (CZK)  

2006

2005

2004

2003

 



Assets

 

TOTAL ASSETS

187.326.000,00

170.196.000,00

203.386.000,00

167.253.000,00

 

Fixed assets

13.086.000,00

6.211.000,00

3.983.000,00

5.472.000,00

 

Intangible fixed assets

199.000,00

451.000,00

105.000,00

271.000,00

 

Tangible fixed assets

9.887.000,00

5.760.000,00

3.878.000,00

5.201.000,00

 

Non-current financial assets

3.000.000,00

 

 

 

 

Current assets

173.315.000,00

162.920.000,00

198.400.000,00

161.236.000,00

 

Inventories

78.839.000,00

59.657.000,00

56.667.000,00

56.273.000,00

 

Short-term receivables

46.282.000,00

45.912.000,00

48.822.000,00

52.545.000,00

 

from that : Trade receivables

40.720.000,00

45.439.000,00

48.351.000,00

52.433.000,00

 

Liquid assets

48.194.000,00

57.351.000,00

92.911.000,00

52.418.000,00

 

Other assets

925.000,00

1.065.000,00

1.003.000,00

545.000,00

 



Equity & Liabilities

 

TOTAL LIABILITIES

187.326.000,00

170.196.000,00

203.386.000,00

167.253.000,00

 

Equity

148.425.000,00

120.736.000,00

152.751.000,00

118.347.000,00

 

Share capital

100.000,00

100.000,00

100.000,00

100.000,00

 

Statutory funds

128.000,00

128.000,00

128.000,00

128.000,00

 

Retained earnings

114.508.000,00

83.522.000,00

118.119.000,00

89.843.000,00

 

Profit or loss for the current period

33.689.000,00

36.986.000,00

34.404.000,00

28.276.000,00

 

LIABILITIES

34.446.000,00

45.367.000,00

46.562.000,00

43.242.000,00

 

Short-term liabilities

34.446.000,00

45.367.000,00

46.562.000,00

43.242.000,00

 

Other liabilities

4.455.000,00

4.093.000,00

4.073.000,00

5.664.000,00

 

BALANCE SHEET TOTAL

187.326.000,00

170.196.000,00

203.386.000,00

167.253.000,00

 



Profit & Loss Account

 

Turnover

291.580.000,00

302.415.000,00

322.738.000,00

341.229.000,00

 

Other operating revenues

1.787.000,00

1.497.000,00

1.767.000,00

1.162.000,00

 

Total operating income

293.367.000,00

303.912.000,00

324.505.000,00

342.391.000,00

 

Costs of sold goods

165.829.000,00

179.430.000,00

204.112.000,00

223.381.000,00

 

Purchased consumables and services

59.620.000,00

53.533.000,00

51.984.000,00

55.513.000,00

 

Staff costs

19.993.000,00

17.516.000,00

17.305.000,00

17.222.000,00

 

Taxes and charges

30.000,00

30.000,00

28.000,00

14.000,00

 

Depreciations of intangible and tangible assets

1.105.000,00

1.395.000,00

1.799.000,00

2.715.000,00

 

Other operating expenses

145.000,00

470.000,00

214.000,00

2.072.000,00

 

Total operating expenses

246.722.000,00

252.374.000,00

275.442.000,00

300.917.000,00

 

OPERATING PROFIT / LOSS

46.645.000,00

51.538.000,00

49.063.000,00

41.474.000,00

 

Financial income

1.626.000,00

2.693.000,00

3.484.000,00

3.255.000,00

 

Financial expenses

3.818.000,00

3.798.000,00

5.053.000,00

5.197.000,00

 

there of : Interest expenses

 

91.000,00

 

 

 

PROFIT/LOSS BEFORE TAX

44.453.000,00

50.433.000,00

47.494.000,00

39.532.000,00

 

Corporation income tax

10.764.000,00

13.447.000,00

13.090.000,00

11.256.000,00

 

PROFIT OR LOSS FOR THE CURRENT PERIOD

33.689.000,00

36.986.000,00

34.404.000,00

28.276.000,00



Partial Financials:

Amounts shown in Czech Koruna (CZK)  

2007

 



Equity & Liabilities

 

Share capital

100.000,00



The company is obliged by law to publish its financial statements.
The balance sheet data are from official sources.
The complete financial statement 2007 has not been published and are not officially available.

 


 

 

Approximate Exchange Rates:

2006: 28,343 CZK = 1 EUR
2005: 29,784 CZK = 1 EUR
2004: 31,904 CZK = 1 EUR
2003: 31,844 CZK = 1 EUR
2006: 22,609 CZK = 1 USD
2005: 23,947 CZK = 1 USD
2004: 25,701 CZK = 1 USD
2003: 28,227 CZK = 1 USD

 


 

 

Bankers:

Československá obchodní banka, a. s. - Account no. 01943000/0300
Praha 1

 


 

 

Ratios:

 

2006

2005

2004

2003

Liquidity Ratio - 3.stage
current assets / (Short-term liabilities + Short-term bank credits and loans)

5,03

3,59

4,26

3,73

Liquidity Ratio - 2.stage
(Short-term receivables + Liquid assets) / (Short-term liabilities + Short-term bank credits and loans)

2,74

2,28

3,04

2,43

Liquidity Ratio - 1.stage
Liquid assets / (Short-term liabilities + Short-term bank credits and loans)

1,40

1,26

2,00

1,21

Return on assets (ROA)
(Net result / TOTAL ASSETS) * 100

17,98

21,73

16,92

16,91

Return on equity (ROE)
(Net result / Equity capital) * 100

22,70

30,63

22,52

23,89

Return on sales ( ROS )
Net profit / Turnover

11,55

12,23

10,66

8,29

Receivables Maturity Date (day)
Short-term receivables / Turnover * 365

57,94

55,41

55,22

56,21

Liabilities Maturity Date (day)
Short-term liabilities / Turnover * 365

43,12

54,76

52,66

46,25

Debt Ratio
(Liabilities / Total Liabilities) * 100

18,39

26,66

22,89

25,85

Stock rotation in days
stock / (production consumption + expenses on sold goods) * 360

0

0

0

0

Net working capital
current assets - short term liabilities

CZK 138.869.000,00

CZK 117.553.000,00

CZK 151.838.000,00

CZK 117.994.000,00




Average values of ratios of enterprises with 100 or more employees in the sector of wholesale and retail trade, repair of motor vehicles, motorcycles and personal and household goods are following:

Liquidity Ratio - 3.stage: 2,5
Liquidity Ratio - 2.stage: 1,7
Liquidity Ratio - 1.stage: 0,5
ROA: 2,5 %
ROE: 5,0 %
Receivables Maturity Date: 50 days
Liabilities Maturity Date: 55 days
Debt Ratio: 65 %

 

 

ADDITIONAL INFORMATION

 


 

 

Contact With Company:

Name and surname: Mrs.Ivana Šachová
Function: Managing director
Information given in report has been confirmed.

 


 

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions